Medicare Plan G Reviews: It's the #1 Plan
Now that Plan F is no longer available to new Medicare beneficiaries, Medigap Plan G has the highest reviews and enrollment numbers among the available Medigap plans. According to a review by medicaresupp.org, more than half (58.8%) of seniors turning 65 purchased Medigap Plan G in 2021.
However, Plan N, the second most popular plan, had a modest growth rate in 2020, increasing by only 0.2%. This decline is notable compared to the 1% growth in 2019 and the 5% growth in 2018.
Plan G clearly demonstrates the highest growth rate in relative and absolute terms, continuing its multi-year trend of rapid expansion.
How do Medicare beneficiaries rate their Medicare Supplement?
AHIP’s most recent review reveals that seniors are highly satisfied with their Medicare Supplement coverage.
- 93% of seniors are satisfied with their Medicare Supplement plan, with 80% being very satisfied.
- 83% of seniors rate their Medicare Supplement coverage as excellent or good.
- 96% of seniors agree that Medigap coverage allows them to see trusted doctors and specialists without worrying about out-of-pocket costs.
- 77% of seniors find the most valuable benefit to be the coverage of hospital expenses not covered by Original Medicare.
Is Medigap Plan G Worth It?
Plan G also offers the advantage of having no network restrictions, unlike Medicare Advantage plans. You can choose any medical provider or facility nationwide as long as they accept Original Medicare. This flexibility ensures accessibility and convenience for your healthcare needs.
Furthermore, individuals with Plan G encounter significantly fewer challenges when paying their medical bills. Merely 4% of those with Medicare Supplement coverage reported difficulties in the past year, starkly contrasting to the 12% of traditional fee-for-service Medicare enrollees without supplemental coverage.
These strengths underscore the undeniable value and financial peace of mind that Medicare Supplement Plan G offers.
What Does Medicare Plan G Cover?
Medicare Plan G covers a range of medical costs related to Original Medicare, including the Part A deductible, coinsurance, copayments, excess charges, and even foreign travel emergency care. With this plan, beneficiaries can choose any healthcare provider or facility nationwide that accepts Original Medicare.
Plan G also includes coverage for:
- Part A hospice care coinsurance or copayment
- Assisted living and nursing home care coinsurance
- Medicare Part B excess charges
- Bloodwork for diagnostic tests such as x-rays, lab tests, and MRIs
- Preventive services covered by Original Medicare
How Much Does Medicare Supplement Plan G Cost?
Generally, beneficiaries can expect to pay an average monthly premium of $140-$400 per month for Plan G. The cost of a Medigap Plan G policy can vary significantly depending on the insurance carrier, your age, health, Medicare Part B start date, and state of residence.
Which Companies Offer Medicare Plan G?
Aetna has received an A (excellent) financial strength rating from AM Best. However, when assessing Medigap options, it is important to consider factors such as customer service and pricing variables.
Forbes Health conducted an extensive analysis of Medigap insurance companies nationwide and has compiled a list of the top five Medicare Supplement providers that offer Plan G for 2024.
The evaluation considered financial health, consumer feedback, coverage availability, and various Medigap policies offered. Among the companies that made the final cut are Humana, United Healthcare, Blue Cross Blue Shield, Mutual of Omaha, and Cigna.
Medicare Supplement Plan G is an excellent choice for individuals seeking comprehensive coverage and peace of mind. By selecting Plan G, beneficiaries gain greater control over their healthcare costs while ensuring access to high-quality care without facing financial strain. With no network restrictions and lower monthly premiums, Medigap Plan G stands out as one of the most attractive plans on the market.
What does Plan G not cover?
Medigap Plan G typically does not provide coverage for the Part B deductible, long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.
Which Medigap Plan G is the best?
Regardless of the company you choose, the covered benefits of Plan G remain the same. The variation lies in the premiums you’ll pay from one company to another.
How much does Medicare Plan G cost in 2023?
Beneficiaries can expect to pay an average monthly premium of $140-$400 for Plan G.
Does Medicare Plan G cover all medical expenses?
Medicare Supplement Plan G covers the gaps left by Original Medicare; however, the Part B deductible is not covered.
Does Plan G pay for prescriptions?
Unfortunately, Plan G does not cover prescription medications; you must purchase a separate Medicare Part D prescription drug plan.